Stockholders' Equity

9 Months Ended

Dec. 24, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock 

The Company issued a net 0.5 million and 0.6 million shares of common stock during the three and nine months ended December 24, 2022, respectively, and a net 0.6 million and 0.8 million shares of common stock during the three and nine months ended December 25, 2021, respectively, pursuant to the Company's equity incentive plans.

Share Repurchase Program 

In January 2021, the Board of Directors authorized the repurchase of $350 million of the Company’s common stock. Since inception, approximately $313.9 million of the Company’s common stock has been repurchased under this share authorization, leaving approximately $36.1 million available for repurchase as of December 24, 2022.  During the three months ended December 24, 2022, the Company repurchased 0.7 million shares of its common stock under the 2021 authorization for $50.0 million, at an average cost of $70.14 per share. During the nine months ended December 24, 2022, the Company repurchased 2.0 million shares of its common stock under the 2021 authorization for $156.4 million, at an average cost of $77.39 per share. Additionally, in July 2022, the Company announced that the Board of Directors authorized the repurchase of up to an additional $500 million of the Company's common stock. No shares have been repurchased under the 2022 authorization as of December 24, 2022.